California Resources Corp — Director's Dealing 2021

May 15, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: California Resources Corp (CRC)
CIK: 0001609253
Period of Report: 2021-05-12

Reporting Person: Bys Jay A. (EVP & Chief Commercial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-12	Common Stock	A	61309	—	Acquired	61309	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-12	Performance Stock Units	$	A	61309	Acquired		Common Stock (61309.0)	Direct

Footnotes

F1: Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Common Stock. 16,721 RSUs will vest on January 25, 2022; 22,294 RSUs will vest on January 25, 2023; and 22,294 RSUs will vest on January 25, 2024. Subject to certain exceptions, the RSUs will be settled in shares of Common Stock within 45 days following the final vesting date.

F2: Represents the target number of performance stock units ("PSUs"). Each PSU represents a contingent right to receive one share of Common Stock. The actual number of PSUs that vest and become earned is based on the volume-weighted average price of a share of Common Stock as determined over any 60 consecutive trading days during the performance period which ends on January 25, 2024, and, subject to certain exceptions, will be settled in shares of Common Stock within 45 days following the end of the performance period.